Terms such as "free" - The Code states under its general requirements on advertising that a "regulated entity must ensure that all its advertisements are fair and not misleading" (Chapter 7,General Requirement 1). Therefore, care should be taken when using such terms which have a widely accepted meaning. The Financial Regulator considers that an unqualified description of a service as "free" is misleading in instances where only certain fees are disapplied (for example, bank accounts where transaction and maintenance fees are not applied but other charges may apply). As another example, a service should not be advertised as "free" if charges apply where certain criteria, such as maintenance of a minimum balance, annual turnover or minimum number of transactions, have not been met.